If you're a California employer just getting used to a $15.50 minimum wage, get ready for more changes. You must now prepare for another increase as the state just announced a $16.00 hourly minimum wage for all employers effective January 1, 2024. The Director of California's Department of Finance published a letter on July 31 stating that the minimum wage needed to rise by 3.5% to account for an inflation adjustment effective the beginning of next year. What are the five things employers need to know about this impending change – and what can you expect in the coming months?
California's Minimum Wage To Increase Again In January 2024: 5 Things Employers Need to Know
Fisher Phillips | Aug 2023
Effective date: 1/1/24
Text of the announcement.
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The increase to the State minimum wage will also affect the minimum salary requirements for full-time exempt employees. Beginning January 1, 2024, the minimum salary for a full-time exempt employee will be $66,560 per year (currently $64,480 per year).
California Increases State Minimum Wage
Lewitt | Aug 2023
The DIR will be announcing the increase for computer professionals in October 2023.
California Minimum Wage Soars to $16 per hour in 2024
Zaller | Aug 2023
Numerous cities and counties have passed local minimum wages that surpass the state minimum, and employers must pay non-exempt employees the higher wage as between any local ordinance and state law.
California Announces Minimum Wage Increase to $16 Per Hour Starting January 1, 2024
Atkinson | Aug 2023
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